Net profit went up 17.5 per cent in the second quarter of Apollo Tyres Ltd’s 2014-15 financial year, the company reported on 10 November. This positive result was achieved despite a slight decrease in net income from operations, and reflects a growth in exports from India and healthy performance in Europe.
The third and final skill test in the ‘Apollo Challenge’ has begun. Together with Manchester United F.C., tyre maker Apollo Tyres is encouraging football aficionados to demonstrate just how on target their shooting is with the Apollo Accuracy Challenge. This particular challenge sees Manchester United midfielder Ashley Young demonstrate the importance of accuracy, a quality Apollo Tyres argues is the most important skill for any footballer.
Reifen China’s 2014 edition will take place on 3-5 December at the Shanghai New International Expo Centre on December 3 – 5, 2014. On the occasion of the eighth edition of the international meeting place for the sector, Messe Essen and the China United Rubber Corporation (CURC) are expecting around 120 exhibitors from numerous nations. Many of the biggest names in the Chinese tyre industry will be present, and the organisers have particularly emphasised the manufacturing backbone of the show; with around 45 percent of the exhibitors originating from the producing industries, “Reifen China will be a manufacturers’ fair”. The organisers are expecting a total of around 15,000 visitors to both trade fairs.
Apollo Tyres has responded positively to a court decision against Cooper Tire & Rubber’s bid for compensation following the breakup of the Apollo/Cooper acquisition late last year. Cooper sought a US$112 million breakup fee as it viewed Apollo as having breached the merger agreement, however Delaware Chancery Court Judge Sam Glasscock III ruled on 31 October that Cooper itself hadn’t done all it could to satisfy the deal’s closing conditions.
Apollo Tyres Ltd. has appointed a new president for Europe and the Americas and CEO of Apollo Vredestein B.V. The role has been taken on by Mathias Heimann, who is based in the company’s European headquarters in Enschede, the Netherlands. Heimann began in his new position in early October and succeeds Luis Ceneviz, who has left the company and, according to informed sources, returned to his home country, Brazil.
The second test in the Manchester United ‘Apollo Challenges’ skill challenge has been released. This unit is called the ‘Apollo Control Challenge’ and sees Manchester United and Belgium international midfielder Marouane Fellaini demonstrate how to master perfect ball control, an invaluable skill when playing in one of the most competitive and fast-paced areas of the pitch. The challenge can be viewed at the apollochallenges.com website.
Apollo has confirmed Hungary as the location for its first greenfield facility outside India. The manufacturer says that Hungary was chosen having considered some of its neighbouring Central Eastern European and Asian countries. Apollo’s latest investment, which is planned to total 475m euros over the next five years, was approved by its Board of Directors today.
Apollo Tyres Ltd has initiated voluntary business rescue proceedings for its Apollo Tyres Africa Proprietary Limited subsidiary. The company has informed the BSE that a specialist has been appointed to restructure its South African operation; the specialist’s evaluation will “decide the future course of action for the company in South Africa.”
The word to Louis van Gaal is that Manchester United must finish ‘no lower than third’ in the Premier League this year, and should the recently-appointed manager meet this expectation it will be a marked turnaround of last season’s fortunes. Sponsors, such as tyre makers Federal, Multistrada and Apollo Tyres – the latter official partner for the club in 69 countries – also stand to benefit from a better year on-field.
Apollo Tyres hasn’t officially announced where its planned European factory will be built, but it looks as if the honour has gone to Hungary. Today the European Commission confirmed that a proposal to give Apollo Tyres (Hungary) Kft. €95.7 million (approximately HUF 29 billion) in regional investment aid for the construction of a tyre plant in Gyöngyöshalász is in line with European Union state aid rules. The Commission found that the aid granted by Hungary favours regional development, while any distortions of competition will remain limited.
Apollo Tyres recently signed up as a sponsor to German football club VfL Wolfsburg, and Continental is also back with the team for a second year – the German tyre and automotive component manufacturer’s ATE aftermarket equipment brand will continue as a premium sponsor of the Bundesliga club for the 2014-2015 season. The ATE sponsorship is in keeping with Continental’s sponsorship strategy and involves displaying the brand logo on stadium LED perimeter boards during all VfL Wolfsburg Bundesliga games.
A year after announcing its initial partnership with Manchester United, Apollo Tyres has announced how the advertising and marketing cooperation has grown from covering just the UK and India initially to a total of 69 countries. The additional 67 countries cover virtually all of what can be called Europe – and even as far as Turkey, but does not include Russia. In addition the number includes the Middle Eastern markets Apollo has invested in developing its retail and distribution presence in recently. Further afield in the Far East – Thailand is also included. These markets are said to have been chosen based on their positions as influential and fasting growing markets. No details relating to the scale of investment associated with the partnership have been revealed. However it is said to have been “satisfactory for both parties.”
Apollo Tyres is reporting further inroads into the Kuwait market with the opening up of it first branded retail outlet in the country. The Apollo Zone is designed to provide customers with an enhanced retail experience and a better feel for the brand and products on display, including passenger car, 4×4 and light truck tyres. The new Apollo Zone is located in the up-market Canada Dry Street of Kuwait, and is operated by Federal General Trading & Contracting Co.
Apollo will introduce its full range of industrial tyres to end users and tyre specialists in Europe with a six-month tour of the continent. Apollo Vredestein specialists will visit eight countries to introduce Apollo branded industrial tyres to as many users and dealers as possible. The company will use a specially designed Volkswagen Crafter, with dual Manchester United branding, to display almost all types, sizes and profiles of tyre during the promotional tour.
Apollo introduced new winter and all-season products in its Alnac range at Reifen 2014, with a full launch reported in Tyres & Accessories’ July issue. The Alnac 4G All Season and Alnac 4G Winter tyres were developed in its Global R&D Centre in the Netherlands, optimised for the European road network.
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